Amgen (NASDAQ:AMGN) reported a 6% year-over-year increase in first-quarter revenue, reaching $6.7 billion, alongside a 5% rise in non-GAAP earnings per share. The company’s executive vice president, Peter Griffith, emphasized that 2026 is viewed as a “springboard year” for new product launches that could offset pressures from existing franchises. Six key growth drivers are expected to fuel sales, representing 70% of quarterly product sales with a growth rate of 24% year over year.
Amgen is advancing its obesity treatment candidate, MariTide, through a broad phase 3 program, aiming to meet the needs of over 1 billion affected by obesity worldwide. The drug may require as few as four to six injections annually. Additionally, Amgen is exploring olpasiran for cardiovascular risk reduction and new indications for existing drugs. The company’s AI initiatives are improving efficiency across research, manufacturing, and commercial operations.
On tax matters, Griffith noted ongoing IRS disputes regarding Amgen’s Puerto Rico operations, with hearings set to resume in 2026. Amgen continues investments in Puerto Rico, with a recent announcement of an additional $300 million on top of a previously stated $650 million investment.
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